Gold futures ended on a positive note on Wednesday (Dec. 6), bolstered by a decline in US bond yields and the anticipation of a potential interest rate cut by the US Federal Reserve (Fed) in the first quarter of 2024. Gold futures registered an uptick of $11.60, marking a 0.57% increase, settling at $2,047.90 per …
Today, gold futures soared beyond the $2,100/ounce mark, hinting at a sustained upward trajectory in the coming year. Experts attribute this surge to expectations of a significant shift in the Federal Reserve’s (Fed) monetary policy, with projections indicating an end to interest rate hikes and a move towards rate cuts starting next year. The ongoing …
Gold Prices Set to Surge Towards $2,200 on Anticipated Fed Interest Rate Cuts Read More »
The Federal Reserve Bank’s Philadelphia branch has unveiled the manufacturing index for the Mid-Atlantic region, showcasing an ascent to -5.9 in November. This figure surpassed analysts’ expectations, who had anticipated a reading of -7.5, following October’s index of -9.0. While the increase in the index signals improvement, it’s crucial to note that the indicator remains …
Philadelphia Fed Reports Manufacturing Index Exceeding Forecasts for November Read More »
Gold futures experienced a decline on Friday, closing at $1,937.70 per ounce, marking a significant drop of $32.10, equivalent to 1.63%. The dip comes in the wake of signals from Federal Reserve Chairman Jerome Powell, suggesting the possibility of further interest rate increases to curb inflation. For the week, gold prices are down by 2.86%, …
Gold Slides to $1,937.70 as Fed Chair Signals Potential Interest Rate Hike Read More »
In a parallel move to the Federal Reserve (Fed), the Hong Kong Monetary Authority (HKMA) announced its decision to keep its policy interest rate steady at 5.75% on November 2. This decision closely followed the Fed’s resolution to maintain its policy interest rate for the second consecutive time, as unveiled during its meeting on November …
Hong Kong’s Bank Maintains Interest Rates at 5.75% in Alignment with the Fed Read More »
Gold futures faced a decline on Wednesday, November 1, as the market eagerly awaited the outcome of the Federal Reserve’s (Fed) monetary policy meeting. The New York gold market concluded its trading session before the Fed board announced its decision, leaving investors in suspense. Gold futures registered a dip of $6.80, representing a 0.34% decrease, …
Gold Slides $6.80 as Fed Meeting Results Awaited Read More »
In a day marked by heightened geopolitical tensions in the Middle East, gold futures exhibited a notable uptick, capitalizing on a weaker dollar and a surge in demand for the precious metal as a safe-haven asset. Investors flocked to gold ahead of Israel’s ground invasion of Gaza, further fueling the bullish sentiment in the market. …
Gold Closes at $1,994.40 as Middle East Crisis Spurs Strong Buying Read More »
The Federal Reserve Bank’s Philadelphia branch, known for its influential economic indicators, announced that the manufacturing sector index in the Mid-Atlantic region rose by 5 points, reaching -9.0 in October. However, this figure fell short of analysts’ expectations, who were anticipating a less negative reading of -6.8. This report provides insights into the economic health …
Philadelphia Fed Reveals Manufacturing Index Lower Than Expected in October Read More »
Gold futures closed on a positive note on Friday, October 6th, as a weaker dollar and a technical rebound lifted prices. This came after nine consecutive days of losses, despite robust employment data from the United States, which had initially sparked concerns about interest rate hikes and triggered a two-week downward trend in gold contract …
Gold Ends Higher at $1,845.20 Amid Weakening Dollar and Technical Rebound Read More »
In a session marked by heightened anxiety over the Federal Reserve’s monetary policy, gold prices experienced a downward trend on Wednesday, October 4. Concerns lingered that the central bank might maintain elevated interest rates for a more extended period than previously anticipated, casting a shadow over precious metals. Gold futures recorded a decline of $6.70, …
Gold Closes Down at $6.70 Amid Fed Interest Rate Concerns Read More »